SATAMA INTERACTIVE GROUP'S INTERIM REPORT 1 JANUARY - 30 SEPTEMBER2007

Donnerstag, 25.10.2007 07:55 von Hugin - Aufrufe: 281

Satama and Trainers' House Merge. Satama's Growth Continued. - In the period under review, Satama's net sales grew by 12.9% in comparison with the previous year. Net sales amounted to EUR 27.2 million (EUR 24.1 million). - Operating profit increased by EUR 2.4 million from the previous year's comparative figure, amounting to EUR 1.9 million, 6.9% of net sales (EUR -0.5 million, -2.2%). The financial result for the previous year includes non-recurring expenses related to the restructuring programme in the amount of EUR 1.2 million. Excluding the provision, Satama's operating profit increased by EUR 1.2 million in the period under review in comparison with the previous year. - In Q3/2007, Satama's net sales grew by 9.8% in comparison with the previous year. Net sales amounted to EUR 7.8 million (EUR 7.1 million). Satama's operating profit was EUR 0.4 million, or 5.2% of net sales (EUR 0.4 million, 5.3%). - At the end of the period under review, the equity-to-assets ratio was 77.2% (76.3%). - In Q3/2007, Satama, Trainers' House and the shareholders of Trainers' House Oy signed a Combination Agreement. Trainers' House will merge into Satama approximately by the end of the year 2007. Financial information for 2006 has been adjusted to comply with the new accounting principles applied to media services, as explained below. CEO Jarmo Lönnfors on the interim report: "The most important event in Q3/2007 for Satama, which celebrated its 10th anniversary on 1 October 2007, was the signing of the Combination Agreement with Trainers' House. Good cooperation between the two companies over the past year created a solid foundation for the merger, which is both strategically and financially beneficial for both parties. The merger enables both companies to pursue their strategic goals more efficiently. Trainers' House needs tools supplementing its training services to support the growth of its customers, and Satama is seeking continuous services to complement the company's project services. By joining forces we are better able to offer growth management services to the customers of both companies. The first such service is BLARP, a business-critical growth management system ready for delivery in Q4/2007. There has been great interest in the service. At the beginning of Q4/2007, we secured the first order for the service, and the number of sales projects is increasing rapidly. During Q3/2007, Satama's management invested a great deal of effort in the merger with Trainers' House. This work will continue over the next few months, because the merger and the related integration of operations will require a considerable amount of work in both organisations. Partly due to the merger, Satama's net sales in the seasonally slow third quarter did not develop quite as planned. This was also caused by the investments made in the company's future. To accelerate service development, Satama allocated a team of experts solely to the development of the BLARP service. As a result, the output of this team was excluded from the invoicing of Q3/2007. Net sales for the quarter increased in comparison with the previous year, but the operating profit improved only slightly. Nevertheless, Satama's profitability in the period under review was considerably higher than in the previous year. I am confident that the merger of Satama and Trainers' House is an excellent alliance also for our investors. The new company will be a listed company with a strong cash flow, high profitability and a clear strategy for ensuring future growth. I am pleased that our investors appear to share this view. Interest in Satama's shares has increased and our share price has strengthened considerably since the publication of the Combination Agreement." For more information, please contact: Tuomas Airisto, VP, Business Development, at +358 (0)207 581 505 Martti Ojala, CFO, at +358 (0)207 581 637 Press conference: Satama will organise a press and analyst conference regarding the interim report on 25 October, 12 noon - 1 pm, at Satama's head office, Henry Fordin katu 6, Helsinki. Those wishing to participate should contact Nina Pakalen (tel. +358 (0)40 772 3415, e-mail: nina.pakalen@satama.com). Link to the interim report with its figures below.
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